Technology Helps Unlock Customer Behavior
A new generation of analytical technology from software companies such as Siebel and Blue Martini promises to help e-tailers and retailers make sense of the mountains of sales data collected everyday.
“We’re on the cusp of what’ll be a tremendous revolution for retailers, and I’m not a buzz kind of guy,” says Jeffrey Roster, a retail analyst for Gartner, the technology consulting firm. “We’re not talking about improving a little thing here.” Mr. Roster is quick to point out that the biggest opportunity for retailers who take advantage of the new technology is not necessarily in the online realm. For instance, he says, traditional retailers who are better able to analyze the sales histories of their customers will be able to offer different tiers of service for their more valuable customers — perhaps through express checkout lines or loyalty rewards.
Moderator Comment: Does the reality of analytical
software live up to its advanced billing?
Mountains of data have added up to analysis paralysis
for many years. Suppliers such as Blue Martini, Concept Shopping and others
are helping retailers make dollars and sense out of the data collected. [George
Anderson – Moderator]